Maximize Your Impact: Smart Giving Strategies for the End of 2024
As November fades into December, many of us are navigating year-end deadlines, holiday plans, and the final stretch of 2024. It’s a busy, festive time, with generosity and the spirit of giving already in full swing.
At GiveWise, generosity is at the heart of what we do. We want to help you make the most of your year-end giving strategies—allowing you to maximize your charitable impact while benefiting from potential tax savings. By planning ahead, you can ensure more of your hard-earned income supports the causes you care about most, making a real difference in your community and beyond.
Time is ticking—now is the perfect moment to reflect on how you want to finish 2024 with purpose. Remember, with GiveWise, you can contribute to your fund in 2024 and give in 2025 while still receiving your instant tax receipt. However, we also know that charities rely on this giving season to meet critical needs. Planning ahead and keeping key deadlines in mind will ensure your generosity benefits everyone.
Here is your 2024 Year-End Giving Guide
Securities (EFTs, Stocks, Mutual Funds, Crypto)
Due by Dec 15
Securities contributions are not immediate, and processing times can vary between brokers. We recommend initiating the process with your broker as soon as possible. To ensure your contribution is included in your 2024 tax receipt, securities must be received by this date.
*Did you know? Donating publicly traded securities directly to a charity is one of the most tax-efficient ways to give. By making this type of donation, you can eliminate capital gains tax while still receiving a charitable tax receipt for the full market value of the securities. The tax savings allow you to maximize your impact, enabling you to give even more to the causes you care about most. It’s a smarter way to give that benefits both you and the charities you support.
Wire Transfers
Due by Dec 29
Wire transfers must be received by GiveWise by December 29.
Cheques
Postmark by Dec 29
Contributions made via checks need to be postmarked by December 29 to leave time for postal services. Given potential postal disruptions, don’t worry—we’ve got you covered! You can also give directly from your bank for a quicker and hassle-free donation.
Electronic Fund Transfers
Contribute up until Dec 31
Contributions made using bank accounts and credit cards linked to your GiveWise account must be initiated on GiveWise no later than midnight on December 31.
Remember, philanthropy is something everyone can embrace. By working with your financial advisor, you can maximize the benefits of charitable giving while creating a meaningful impact in your community and beyond.
If you have any questions about year-end contributions or how to maximize your giving, please don’t hesitate to reach out—we’re here to help. Reach out to us: support@givewise.ca